Thursday, 27 March 2014

Unclaimed Deposit Account and Inoperative /Dormant Account

Unclaimed Deposit Account
Those saving or current accounts which have not been operated upon for 10 years or more, as at the end of each calendar year.

Inoperative /Dormant Account
A savings as well as current account should be treated as inoperative / dormant if there are no transactions in the account for over a period of two years.

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